If your accountant is just doing tax compliance work for your SME business, then you’re overlooking a valuable resource that can help enhance your business performance. That may be especially true if you are busy working ‘in’ rather than ‘on’ your business.
Progressive advisors like the Accru network utilise a variety of tools to improve clients’ business performance and profitability. Three key ones are information systems, management tools and profitability analysis. Here’s how we can help you make the most of these systems and tools to provide you with timely information to improve your business’ profitability.
Information systems
Advisors are able to identify and recommend the best software for your business’s needs from a range of software solutions. If you are not already using cloud software, Accru can assist with a smooth transition and training so you can take advantage of cloud accounting to improve business productivity.
If setup properly, information systems can provide up-to-date information on how your business is going. The world of cloud accounting means that information can be at hand wherever you are and can also be available to your advisor. Further to this, by having to spend less time on information processing, there is more time for analysis and discussion. Good advisors will often come to you, meaning there is less disruption and more in depth discussion.
Business management tools
Advisors provide you with regular reporting that will keep you up-to-date with your business’s performance throughout the year. This means that you don’t have to wait until after year end to know if you are reaching your profit and sales targets.
The Advisory team at Accru is equipped with tools that will assist your business improve efficiency, performance and profit. These include:
- Cash flow forecasts
- Business management reports
- Budgeting and forecasts
- Pricing strategies
- Business strategy sessions
- Management Board committees
- Analysis of lead indicators for profitability
Profitability analysis
Advisors work together with clients to review and identify areas that require attention and assist business owners to enhance efficiency and profitability. Identifying and reporting on lead indicators of profitability is crucial, as well as measuring performance against targets on an operational and strategic level.
The Business Advisory team at Accru can guide you with any of these three areas and help your business grow and achieve greater profitability. If necessary they can assist with any uncertainties in implementing new ideas or assessing profitability, whilst also taking the pressure off your business resources and providing unique perspectives on your business and performance.
If you would like more information on how Accru can assist, please contact the Advisory team at your local Accru office.
By Susan Kamau, Accru Melbourne